Lenders

WELCOME LENDERS

Welcome to Montana Board of Housing’s lender page. The success of Montana Board of Housing relies heavily on our partnership with lenders. We work with Participating Lenders throughout the state to offer low-interest loans to eligible buyers. We also offer down payment assistance and mortgage credit certificates, which may increase a potential buyers’ purchasing power.

Why a Montana Board of Housing loan?

Low Fixed Rate Loans
Down Payment and Closing Cost Assistance
Generous Income and Purchase Price Limits
Special home loans for Veterans
Local Mortgage Servicing

Seven Federal Eligibility Requirements:

The funds used to purchase loans are from tax-exempt bonds called Mortgage Revenue Bonds (MRB’s), therefore, the IRS imposes seven eligibility requirements for which all borrowers must qualify under:

Income Limits depending on number of people living in the household.
Purchase Price Limits that vary by county and whether an area is Targeted or Non-Targeted.
The residence must be a borrower’s primary residence.
Trade or business use cannot exceed 15% of the residence’s total area.
Be a first-time homebuyer, (not owned a principal residence during the previous three-year period, *some exceptions apply).
Funds must be used to purchase a home (refinancing not allowed).
Recapture Tax is a possibility.

It is our goal to make sure our participating lenders understand our loan process by offering a variety of resources, including training for lending staff. Contact us to request training or for more program information.

MORTGAGE PURCHASE AND SERVICING GUIDE - UPDATED OCTOBER 2024

Single-Family Lock Guidelines

2024 Terms aND Conditions MBOH Quick Reference Guide

PARTICIPANT FAQ Income Determination Guide

LENDER ONLINE

Participating lenders can use our password-protected online system to submit loan reservations, check loan status, download pre-filled product forms and view updates and special product announcements. Visit Lender Online, our lender portal, to log on and get started now: